39-Month Cycle Says XRP Price Is Poised For Breakout To $1,000, Here’s When
October 06 2023 - 6:00PM
NEWSBTC
A crypto analyst has presented a 39-month analysis that could
determine when the XRP price will rally to a new all-time high. The
analysis marks a return of this trend, which could see XRP rise as
high as $1,000. The 39-Month Cycle Pseudonymous crypto analyst
NeverWishing on TradingView has presented a rather convincing
39-month cycle trend that often ends with the XRP price seeing a
significant rise. The last time this trend was completed was back
in mid-2020 just before the 2020/2021 bull market began. When this
trend was marked three years ago, it ended with the XRP price
rallying from $0.17 in June to $2 in April 2021. Since then,
another 39-month cycle began counting and once again, it has
reached the point where a surge usually occurs. In the chart
presented by NeverWishing, the expected price jump this time around
will be less like the 2020-2021 trend and more like the 2017-2018
jump. In 2017 when the 39-month cycle jump took place, XRP went
from $0.005 to $3.3 at its peak, meaning a 66,000% jump in price.
However, the analyst expects even more explosive growth with the
XRP price going from around $0.53 to $1,000 by the time the rally
is complete. This means a more than 188,000% rise from the current
price levels. XRP nosedive to $0.51 as bears take control | Source:
XRPUSD on Tradingview.com When Will The XRP Price Reach $1,000? The
previous 39-month cycle jumps outlined by the crypto analyst both
hit their peak a little less than a year later. The 2017-2018 rally
was 11 months and the 2020-2021 rally was 10 months, so it is
expected that it will stick close to this timeframe this time
around. NeverWishing’s chart shows the rally starting in November
and hitting $2 in the next four months. From then on, there are
multiple important price levels outlined including $16 by the end
of April 2024 and $118 by June 2024. Roadmap to $1,000 | Source:
Tradingview.com Then for the grand prize of $1,000, the crypto
analyst sets a target date for December 2024, around 13 months from
the rally’s start. So if this prediction does come to pass, the XRP
price could be trading between $869-$1,000 in a little over a year.
The 39-month cycle trend looks similar to the four-year Bitcoin
cycle. However, unlike Bitcoin whose four-year cycle is
characterized by the infamous halving event, the XRP 39-month cycle
does not have a significant event. Instead, it looks to just follow
work mainly on a timeframe basis. Nevertheless, some recent
developments could lend credence to a bull rally such as Ripple’s
multiple wins over the US Securities and Exchange Commission (SEC)
just this year alone. Additionally, Ripple has been expanding its
footprint globally as it looks to take a big chunk of the payments
sector for itself. Featured image from Bitcoinist, chart from
Tradingview.com
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